Shortcut to Body Shortcut to main menu

Invest Korea

Search

Investment News

  • Home
  • Information Center
  • Newsroom
  • Investment News
POSCO Acquires Stake in Canadian Mining Firm
Date
2013.01.02
Views
835
제목 없음

 

POSCO, South Korea's leading steelmaker, said Tuesday it has acquired a stake in a Canadian mining company as part of its efforts to diversify its profit source.

A consortium that includes POSCO has secured a 15 percent stake worth US$1.1 billion in ArcelorMittal Mines Canada, the company said in a statement.

POSCO will invest $270 million, with China Steel, the largest steelmaker in Taiwan, to pay $540 million for the deal, it said.

The remainder needed for the acquisition will be raised from institutional investors in South Korea, the company added.

The Canadian mining company mainly produces iron ore, with its capacity reaching 15 million tons every year, according to the steelmaker.

Source Text

 

Source: Yonhap News (Jan. 1, 2012)

Meta information